Federal Reserve Chairman Ben Bernanke has an other end of the dollar last night after his press conference of the sale. This continued in session European and the dollar index lokss as he could at least verify depressions last Records in 2008.
The weakness of the buck has a major impact on the financial markets. It will be crucial for the direction of the Aussie and precious metals. Those today Watch must look closely at AUDNZD and gold.
AUDNZD: as we have been mentioning for some time that AUDNZD had come for a reversal of return to the heights in March. The trigger for rebound came yesterday evening after the RBNZ was enough Dove and said that rates would remain at their current level for some time. This caused the pair break through some important technical levels including 1.3485 - ADM of 55 days. On a basis more short term, the pair manufactures stabbed to 1.3600. If the bulls remain in force and AUDUSD remains supported we could see 1. 3630-50 first. On a more long-term perspective, the pair could wind its way higher for senior 1.3700 of March. However, the NZD is also stimulated by the weakness of the dollar and strong commodity prices, AUDNZD can be quite frustrating that we passed the area of resistance of 1, 36 - 1 3700.
Daily chart of AUDNZD with an indicator of RSI. The RSI does not look overbought and suggests more momentum to the top for this pair.
Gold: The graph short-term hourly suggests he may have a bit of a back happening in gold, as speculators take advantage on the level $1,530. The flag of the RSI also turned lower in the short term, which also supports a rejection. But this is likely to be used as a means to enter long positions at levels better, which could take us then costs skyrocketed at the level $1 550 by gold bugs. Locate any refoulement at the level $1 525 autour - mobile average of 21 hours and a good level of support.
